KEY MARKET TRENDS IN THE ADHESIVE-TAPE INDUSTRIES
Key market trends in the adhesive- tapes industry from 2022 to 2030, forecast?
The adhesive tapes industry is forecast to grow at a CAGR of 6.2%, with the global market expected to exceed US 80 billion dollars throughout the timeline from 2020 to 2030. At the same time, the adhesive market is poised to grow by $12756.72 million during 2021-2025, progressing at a CAGR of 4.44% during the forecast period.?
The expansion across various industries, the increasing urbanization of populations and the improvement of healthcare systems, and transportation equipment are those factors driving adhesive-tape market growth
E-Commerce Industry Raising the Need for Packaging
The development of eCommerce, especially in developed nations, has resulted in the rise of packaging to protect products from damage caused by manufacturing, packaging, and transportation.
Therefore, the necessary packaging materials to be attached and sealed will increase due to the fact that adhesive tapes are easier to glue two broken parts together, which lowers the amount of stress placed on the raw materials used in the production of a variety of goods.?
The emerging economies in China and other countries in the region are being supported by growing urban populations and improving disposable income levels, hence suppliers of packaging adhesives will benefit from the rising demand for packaged consumer goods. Furthermore, the rebound of vehicle production in South Korea and Japan will drive the need for adhesives.
The disadvantage of conventional fastening creates an opportunity for adhesives and tapes
Overall, fastening, bolts, screws and rivets, and other forms of mechanical interlocking are still recognised as the most trustworthy and the most robust. However, using those for attacking unidentified surfaces is very tricky due to the possibility of the material cracking under high pressure by tensile stress.
Hence, the application of tapes and adhesives for fixing and bonding will be used to eliminate the issues that are caused by conventional methods and increase the product's overall lifespan.?
Environment regulations will impact the growth of the market
The authorities might raise more concerns about health and environmental sustainability. They want to cut down the release of volatile organic compounds (VOCs) in adhesive tapes through regulations such as Control of Substances Hazardous to Health (COSHH), the Environmental Protection Agency to the chemical industry in Europe and North America (EPA), GHS, EU, REACH,...
Subsequently, manufacturers in the areas have to comply with the laws, in doing so they need to update their technologies from solvent-based to water-based. This might be an obstacle for manufacturers since solvent-based adhesive tapes can perform durability and can withstand a high range of temperatures, making them suitable for a wide range of applications, while water-based adhesive tapes show some limitations in applications.
In the adhesives field, manufacturers and providers are also trying to cut down the carbon footprint of production activities as well as those of their end users. According to Freedonia’s group report, there are significant areas of innovation in adhesives and sealants:?
RCAs are hot melt pressure-sensitive adhesives used for paper-to-paper bonding and can be degraded during the pulping process;?
Biodegradable Adhesives are another means of sustainable adhesive used in packaging, hygiene products, envelopes, and medical devices. They are made from natural ingredients, which are formulated to break down CO2.?
Compostable adhesives are biodegradable adhesives that degrade in the controlled conditions of a compost pile. In order to be certificated, after 90 days, 90% of adhesives must be decomposed into CO2 and water vapor. After breaking down the remaining carbon dioxide and other natural substances need to enrich the compost soil.?
Besides, renewable/bio-based adhesives and repulpable adhesive dissolve are two names that are widely used due to their sustainable and environmentally friendly
Predictable of paper-based adhesive tapes, water-based technologies, Single-Coated Adhesive Tape, and double-Coated Adhesives
Paper tapes account for the highest revenue contribution in 2021. These tapes are considered safe for the environment and come in a wide range of colors to choose from. Paper tapes usually are known for their strong gripping force, insulation against heat and ability to withstand high temperatures. Thus these tapes are expected to dominate the Market.
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Water-based technology is predicted to lead the market growth in the forecast period. Since there is increasing demand for water-based adhesive tapes for the building and construction industry in the Asia Pacific region. Furthermore, water-based technology has a low impact on the environment and no VOC emissions during the formulation process, as a result, there will be a growing demand for these tapes, especially in packaging applications due to their versatility.
Singer-coated adhesives were the most popular type sold on the global market. In 2021, and participated to dominate the current revenue, according to research and market, 2022. The adhesive might be made in natural materials such as silicon, acrylic, and natural rubber, these tapes are easy to connect a substance to a surface and link two materials that are adjacent to or overlap one another.
It is projected that traditional methods of sealing and bonding will be replaced by double-coated tapes in the near future because of their longevity, superior surface adherence, and high shear strength. The rise of the automation industry and the substitution of adhesive tapes for conventional fasteners will boost the market of adhesive tapes around the world.?
Water-Based, Reactive, and Hot Melt Adhesives and Sealants
The Freedonia Group finds that reactive products are supported by the development of construction activities and motor vehicle production. The superior performance of reactive products will be favourable in markets and sealing is becoming more vital.?
The growing textile market will be a factor boosting hot melt demand, where they continue to show more advantages about rapid cure rates than conventional stitching. It is expected to grow in nonwoven products, such as wipes and masks, even after the pandemic in 2020-2021. The ageing population in developing countries and the increase in income in developed nations, expanding the personal hygiene products market.?
With the ability of low cost, ease of use, and low emissions, water-based products will remain popular. Even Though water-based products are more popular in developed countries due to consumers' concerns about contamination and regulations, they are likely to gain more application in developing countries.?
The automobile industry promises significant opportunities
While the electronic industry contributed significantly in terms of global revenue in recent years, the automotive industry is expected to be a market driver in the Asia Pacific and globally. In ASEAN, the increase in population, fast-growing economy and infrastructure are expected to have a positive influence on the adhesive-tape market. Moreover, the increasing demand for automobiles will require more adhesives and tapes, which are projected to replace conventional bonding in order to produce lightweight and fuel-efficient vehicles
APAC is a wonderland destination for investment during the forecast period?
One of the most obvious factors in APAC is the fast-growing economy, which is then followed by increasing investment in diverse industries, from construction to healthcare and automotive industries. Some of the major players in the market such as Nitto Denko (Japan) and Ajit (India) are expanding their production and planning out new adhesive-tape production factories in the region.?
As a matter of the fact,?the Asia-Pacific region had the largest share accounting for about 45% of the market revenues in 2021. Countries like India, China are forecasted to be the main market that drives an increase in demand for adhesive tape due to the expansion of several industries across the area, including e-commerce, automotive, and healthcare. According to the Freedonia Group report between 2020 and 2025, the global volume demand in Asia/ Pacific region is expected to account for 70%, India will become the major market by boosting the spending on public infrastructure, which drive the domestic construction activities and increase higher demand for adhesives and sealant.?
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